Hitch Logo

Learning Center

Explore our educational articles and insights to grow your knowledge.

Your home equity may be up, here's how to use it

The holiday season is right around the corner. Need cash for the big end-of-year holidays, like Christmas or Hanukkah?

When Will HELOC Rates Go Down? A Comprehensive Analysis and the Benefits of Hitch's HELOC

HELOC rates are unpredictable, but Hitch's HELOC offers competitive rates and flexible repayment options for homeowners seeking a home equity line of credit.

HELOC vs. HE-Loan vs. Reverse Mortgage: What's The Difference?

If you’re a homeowner looking into how you can tap into your home equity, there are a few different ways to achieve your goals. With the best being...

Horse Barn Loans

Hitch can assist you in building the perfect horse barn, whether you prefer steel pole or traditional wood construction. Enjoy attractive horse housing with low-interest financing of up to $100,000.

Home values are up: the benefits of taking out a HELOC now

In the United States, the real estate market has pushed home equity up to record highs.

What is a HELOC?

Commonly known as a HELOC, a home equity line of credit allows homeowners to unlock their property’s accumulated equity.

10 things you can do with a HELOC

Are you a homeowner with major life goals that require access to capital?

How to pay down debt faster with a HELOC

Debt consolidation is a powerful tool and consolidating loans can help you pay debts down faster.

How to Save on Interest with a HELOC

Are you a homeowner who is using credit cards for borrowing? If yes, we’re here to introduce you to a better way to navigate your finances by...

Home Equity Sharing Companies: How They Work, Pros and Cons

Home equity sharing companies offer homeowners an alternative way to access the equity in their homes.

Equal Housing Lender

Hitch, Inc. NMLS #2383367 #2383367

2158 NW Toussaint Drive. Bend, Oregon 97703

1. Qualified applicants may borrow up to 95% of their home’s value. This does not apply to investment properties.

2. HELOCs have a 10-year draw period. During the draw period, the borrower is required to make monthly minimum payments, which will equal the greater of (a) $100; or (b) the total of all accrued finance charges and other charges for the monthly billing cycle. During the draw period, the monthly minimum payments may not reduce the outstanding principal balance. During the repayment period, the borrower is required to make monthly minimum payments, which will equal the greater of (a) $100; or (b) 1/240th of the outstanding balance at the end of the draw period, plus all accrued finance charges and other fees, charges, and costs.The lender will calculate this amount by taking the outstanding Account Balance on the last day of the draw period and dividing it by 240 months and then adding any finance charge that accrues but remains unpaid during the monthly billing cycle plus any other fees, charges and costs to the fixed principal payment that is due. During the repayment period, the monthly minimum payments may not, to the extent permitted by law, fully repay the principal balance outstanding on the HELOC. At the end of the repayment period, the borrower must pay any remaining outstanding balance in one full payment.

3. The time it takes to get cash is measured from the time the Lending Partner receives all documents requested from the applicant and assumes the applicant’s stated income, property and title information provided in the loan application matches the requested documents and any supporting information. Most borrowers get their cash on average in 21 days. The time period calculation to get cash is based on the first 4 months of 2024 loan funding's, assumes the funds are wired, excludes weekends, and excludes the government-mandated disclosure waiting period. The amount of time it takes to get cash will vary depending on the applicant’s respective financial circumstances and the Lending Partner’s current volume of applications. Closing costs can vary from 3.0 - 5.0%. An appraisal may be required to be completed on the property in some instances.

4. Not all borrowers will meet the requirements necessary to qualify. Rates and terms are subject to change based on market conditions and borrower eligibility. This offer is subject to verification of borrower qualifications, property evaluations, income verification and credit approval. This is not a commitment to lend.

5. The content provided is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply.